Bernie Madoff pled guilty yesterday to bilking investors of over 50 billion dollars. His bail was revoked and they took his sorry ass to jail. By pleading guilty, he avoids court trial and the possibility of having the rest of his family indicted. It is virtually impossible that a 70 year old man could have run a scam like this for more than ten years without the aid of his family and friends.
The Securities and Exchange Commission (SEC) let this Ponzi Scheme get past them for years, but a little insight might give you an idea why. It seems that Bernie's niece is married to a SEC regulator. Coincidence?
As for the investors who lost money, I generally feel bad for most of them, but there are a few things that bother me about some. Most of the investors are in Hedge Funds, an investment fund open to a limited range of investors that is permitted by regulators to undertake a wider range of activities than other investment funds and also pays a performance fee to its investment manager.
It seems to me that a wealthy, well educated investor would know that invested monies that are returning an abnormally high rate of return are suspicious, if not immoral or illegal. Perhaps some of the more greedier investors just looked the other way. Life's a bitch, huh?
Speaking Of Ponzi Schemes, did you know that a Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit. The scheme is named after Charles Ponzi, who became notorious for using the technique after immigrating from Italy to the United States in 1903. Ponzi did not invent the scheme, but his operation took in so much money that it was the first to become known throughout the United States.
His original scheme was in theory based on arbitraging international reply coupons for postage stamps, but soon diverted investors' money to support payments to earlier investors and Ponzi's personal wealth.
Being a musician, singer and performer, I do, however, watch "Dancing With The Stars" and especially "American Idol" once they have eliminated the freaks and wannabees and get down to the talented few. Since I'm not up to speed on the current idol status, I would appreciate those of you who had the patience to watch this year's "Idol" from day one to suggest in your comments who you think will end up in the final five or six and who I should watch.
Friday Earn Money Taking Surveys: I've added another link to my list of proven survey sites on my sidebar. These are sites that I use and they are legitimate ways to make some spending money. You won't get rich but the surveys only take a few minutes to complete and the money adds up. I made over $1,000 in 2008 taking surveys. An easy way to save for Christmas presents or just cash in when you need money.
I will be adding more sites as they become proven to me and I will alert you as I post them. If you have any questions as to how they work, please email me at email@example.com and I will give you the details. This Date In History: 1781; German-born British astronomer William Herschel discovers the planet Uranus. 1868; The impeachment trial of President Andrew Johnson begins. Johnson is the first United States president to be impeached. 1881; Alexander II, emperor of Russia, is assassinated when bombs are thrown at his carriage by members of a revolutionary group, the Narodnaya Volya ("People's Will"). 1961; The Spanish painter Pablo Picasso, aged 79, marries Jacqueline Roque, aged 37.
Picture Of The Day: Today is Friday the 13th and this somewhat interferes with my Happy Hour plans in AREA 51. It certainly doesn't bother me but it may affect the turnout. Thankfully, I, along with most of the people I hang out with, am not superstitious. I'm hopeful that tonight should be a lot of fun (knock on wood).
Be that as it may, today's pictures are rather eclectic but then again.... The basic theme is Friday the 13th and superstitions.
Birthdays: Joseph Priestley, British chemist, who isolated and described several gases, including oxygen, and who is considered one of the founders of modern chemistry because of his contributions to experimentation 1733, Joseph II, Holy Roman emperor 1741, Percival Lowell, American astronomer 1855, Hugo Wolf, Austrian composer 1860.
Printable Things I Never Told You: 1) I almost had a psychic girlfriend but she left me before we met. 2) I've been a baker, carpenter, soldier and insurance salesman in my younger days. 3) I have not been a puppet, a pauper, a pirate, a poet, a pawn or a king. 4) My brother Kirt and I used to imitate the Smothers Brothers acts. Mom always liked me better. 5) My buddy Pete and I had to sit in a tree to watch stock car races because we didn't have the money to get in. We use to get a bad rash the next day after every race we attended. It only took us four weeks to figure out that it was covered in poison ivy.
The Hits Just Keep On Coming: My thanks to my pal, Garnett, for his contribution to today's stories.
There was this small church down in Texas that had a very big-busted Organist. Her breasts were so huge that they bounced and jiggled while she played the organ.
Unfortunately, she distracted the congregation considerably. The very proper church ladies were appalled. They said something had to be done about this or they would have to get another Organist.
So, one of the ladies approached her very discreetly and told her to mash up some green Persimmons and rub them on the nipples of her breasts and maybe they would shrink in size, but warned her to not eat any of the green Persimmons, "because they are so sour they will make your mouth pucker up and you won't be able to talk properly for a while".
Meanwhile, Ma and Pa were sitting on the porch swing talking bout the good ole days when Ma spots the biggest bird she ever seen! Ma says, "Look at the size of that bird, Pa!" Paw raises up," Git my gun, Ma." She runs into the house, brings out his pump shotgun. He takes careful aim and fires four times.
The monster size bird continues to sail silently over the tree tops. Ma says, "I think ya missed him, Pa." Her husband replies, "Yeah, but at least he let go of Bubba!"
That's it for today my little road runners. Have a great and safe weekend and more on Monday.
Stay Tuned !